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  • Plurilock Security (PLUR) has closed the first tranche of its non-brokered private placement
  • The company issued 1,245 convertible debenture units at a price of $1,000 per unit for total gross proceeds of $1,245,000
  • Each debenture unit will consist of $1,000 principal amount of 10 per cent unsecured convertible debenture and 500 common share purchase warrants
  • The net proceeds will be used for Plurilock’s acquisition pipeline
  • Plurilock Security Inc. (PLUR) is up 2.08 per cent trading at C$0.245 a share at 1pm ET

Plurilock Security (PLUR) has closed the first tranche of its previously-announced non-brokered private placement.

The company issued 1,245 convertible debenture units at a price of $1,000 per unit for total gross proceeds of $1,245,000.

Each debenture unit will consist of $1,000 principal amount of 10 per cent unsecured convertible debenture and 500 common share purchase warrants.

The debentures will be convertible into common shares at a conversion price of $0.285.

The debentures have a maturity date of 48 months from the date of issuance.

Each warrant will entitle the holder to acquire one common share for a period of 24 months. The warrants are subject to an acceleration clause.

The company expects to close the second tranche of the non-brokered private placement on or about August 31, 2022.

The net proceeds will be used for Plurilock’s acquisition pipeline and for general corporate purposes.

Plurilock offers world-class IT and cybersecurity solutions through its Solutions Division, paired with proprietary, AI-driven and cloud-friendly security through its Technology Division.

Plurilock Security Inc. (PLUR) is up 2.08 per cent trading at C$0.245 a share at 1pm ET.


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